Free Trial

Weaker In Asia; $1,800 Eyed


Firmer Still


Off Early Cheaps

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
(MNI) Washington

U.S. employers added 431,000 jobs in March, the Department of Labor said Friday, under market expectations (490,000), but the 11th straight monthly increase over 400k.

The unemployment rate dropped two tenths to 3.6% and average hourly earnings rose 13 cents from February, and were up 5.6% from a year earlier, above expectations. The average workweek fell 0.1 hours to 34.6. The report also showed increased labor supply as the labor force participation rate rose slightly to 62.4% from 62.3% and employment-to-population ratio increased 0.2% to 60.1%.

The jobs report should support the Fed's resolve to raise the fed funds rate "expeditiously" this year. A study by St. Louis Fed economist Max Dvorkin had pointed to a modestly above-trend report in March. The official reading for the household survey employment measure was +736k in March, the twenty-third straight monthly increase.

The Black unemployment rate fell to 6.2% from 6.6% (vs 6.0% pre-pandemic), the White rate fell to 3.2% from 3.3% (vs 3.0% pre-pandemic), the Asian rate fell to 2.8% from 3.1% (vs 2.5% pre-pandemic), and the Hispanic/Latino rate also fell to 4.2% from 4.4% (vs 4.4% pre-pandemic).

MNI Washington Bureau | +1 202-371-2121 |
MNI Washington Bureau | +1 202-371-2121 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.